General Motors led a series D round for the lithium-metal battery technology spinout of MIT formerly known as SolidEnergy Systems.
SES, a Singapore-headquartered lithium-metal battery spinout of Massachusetts Institute of Technology (MIT), closed a $139m series D round on Monday led by automotive manufacturer General Motors (GM).
The round included Applied Ventures, the investment arm of semiconductor technology provider Applied Materials, as well as carmaker SAIC Motor, conglomerate SK Group, Singaporean state-owned investment firm Temasek and its Vertex Ventures subsidiary.
SES is developing lithium-metal (li-metal) battery technology for use in systems such as electric vehicles and drones. The company, which was formerly known as SolidEnergy Systems, was spun out of MIT in 2012.
The round comes after SES formed a joint development agreement with GM last month that will involve them building a manufacturing prototyping line for a pre-production battery by 2023.
Qichao Hu, founder and chief executive of SES, said: “This new round of funding will help accelerate technology development, significantly expand our technical, business…
